Insider Selling: Kirby Co. (NYSE:KEX) Director Sells 676 Shares of Stock

Kirby Co. (NYSE:KEX) Director Richard Ross Stewart sold 676 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $109.60, for a total transaction of $74,089.60. Following the completion of the sale, the director now directly owns 23,488 shares in the company, valued at $2,574,284.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Richard Ross Stewart also recently made the following trade(s):

• On Thursday, February 22nd, Richard Ross Stewart sold 3,000 shares of Kirby stock. The shares were sold at an average price of $85.62, for a total value of $256,860.00.

Kirby Stock Performance

Shares of KEX opened at $110.52 on Friday. The company has a 50-day simple moving average of $95.58 and a 200-day simple moving average of $84.73. Kirby Co. has a 52-week low of $69.22 and a 52-week high of $114.35. The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $6.47 billion, a PE ratio of 26.13, a P/E/G ratio of 1.73 and a beta of 1.14.

Kirby (NYSE:KEX) last released its quarterly earnings data on Friday, April 26th. The shipping company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.97 by $0.22. Kirby had a net margin of 8.01% and a return on equity of 8.00%. The business had revenue of $808.00 million for the quarter, compared to analyst estimates of $784.49 million. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts predict that Kirby Co. will post 5.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wolfe Research initiated coverage on Kirby in a research report on Monday, April 22nd. They set an “outperform” rating and a $126.00 price objective for the company. Stifel Nicolaus increased their price target on shares of Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Stephens restated an “overweight” rating and set a $105.00 price objective on shares of Kirby in a research report on Monday, February 5th. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Finally, BTIG Research lifted their price target on shares of Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kirby currently has an average rating of “Buy” and an average price target of $116.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KEX. Raymond James & Associates grew its holdings in Kirby by 80.5% during the 3rd quarter. Raymond James & Associates now owns 5,809 shares of the shipping company’s stock valued at $481,000 after buying an additional 2,590 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Kirby during the third quarter valued at $869,000. Washington Capital Management Inc. purchased a new stake in Kirby during the 3rd quarter worth about $1,389,000. Panagora Asset Management Inc. purchased a new stake in Kirby during the 3rd quarter worth about $226,000. Finally, Teacher Retirement System of Texas raised its stake in Kirby by 10.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 14,028 shares of the shipping company’s stock valued at $1,162,000 after purchasing an additional 1,327 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.